An insurer shall annually, on or before March 1, file with the commissioner a report verified by at least two (2) principal officers. The report shall be on forms prescribed by the commissioner and shall include:

(1) A financial statement of the insurer’s legal insurance business including:

Terms Used In Tennessee Code 56-43-108

  • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-43-103
  • Insurer: means any person who obtains a certificate of authority under this chapter. See Tennessee Code 56-43-103
  • Legal insurance: means the assumption of a contractual obligation to provide specified legal services or reimbursement for legal expenses in consideration of a specified payment for an interval of time, regardless of whether the payment is made by the beneficiaries individually or by a third person for them, in such a manner that the total cost incurred by assuming the obligation is to be spread directly or indirectly among a group of persons. See Tennessee Code 56-43-103
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
(A) Its balance sheet; and
(B) Its receipts and disbursements for the preceding year;
(2) Any material changes in the information submitted pursuant to § 56-43-105;
(3) Such information about the number of persons protected and terminated as may be prescribed by the commissioner; and
(4) Such other information relating to the performance of the insurer as is necessary to enable the commissioner to carry out the commissioner’s duties under this chapter.
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